Acquisition of Symfonia by Accel-KKR

Date: June 2023
Country: Poland
Industry: Software
Target: Symfonia
Buyer (client): Accel-KKR
Seller: Mid Europa
VCP’s role/competence: buy-side M&A advisor

• VCP acted as buy-side advisor to Accel-KKR on the acquisition of Symfonia, a leading provider of accounting, payroll and ERP software solutions
• Upon completion of the transaction, Accel-KKR will join current investor MidEuropa as backers of Symfonia.
• MidEuropa acquired Symfonia in March 2021 in a carve-out from Sage Group plc, and with the fund’s support, Symfonia completed three strategic add-on acquisitions: HRTec, Reset2 and Cloud Planet, which have enabled it to acquire new technology, consolidate existing market segments and also expand into new ones
• The investment will enable Symfonia to build on its existing leadership position and strong brand equity in Poland to become a Central and Eastern European (CEE) regional leader by accelerating organic growth plans and expanding upon a successful M&A strategy.
• VCP provided Accel-KKR with bespoke investment banking services including strategic analyses, valuation support and other ad-hoc assignments
• The financial terms of the deal are undisclosed. The transaction is subject to customary regulatory and antitrust approvals
• The deal is expected to complete in Q3 2023